When Everybody Becomes A Gig Worker

The American gig economy is at a strange crossroads. More workers than ever are turning to apps like Uber, DoorDash, and Instacart to pay the bills, even as it becomes clearer that the promise of flexible, lucrative work was always more myth than reality for many. That tension is showing up in the data. More Americans are turning to gig work even as traditional hiring slows, according to an analysis from Goldman Sachs from last month that found hours worked on platforms have increased this year despite cooling payroll growth across the broader economy. About one in five workers who lost a job, took a pay cut, or got their hours slashed over the past two years ended up turning to gig work, according to Federal Reserve data cited in the report.

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